The price index is about to break-out after long consolidation and Finishing formation of “W” sign typical of Bullish Flag.
The bullish flag pattern perfectly moving around in two parallel trend lines - a channel - for the buyers to regroup before initiating a new leg higher.
As a general rule, the consolidation phase has retraced to more than Fibonacci 38.23% plotted from prior leg higher (the flagpole). Hence, a strong bull flag usually needs retracement between 38.2% to 50% before breaking the upper trend line.
Long Trade entry may be considered on break-out from the consolidation zone and formation of Bullish momentum C\S price action with RRR.
P.S. Chart Assessment is entirely based of proposed probabilities and only for academic purposes. It is not a trade recommendation of any kind. Please do your own assessment & research before taking decision to execute any trade transaction. Please Subscribe, Like and share for more Trend Analysis and Chart Assessments.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.